The Stability of Islamic Finance

The Stability of Islamic Finance main focus is on the question of the sources of financial instability which seems inherent in the conventional system. As a core component of this focus, the book will consider episodes of turbulence and instability in a historical context recalling the occurrence of such events from mid-19th century to the present. It will present various theoretical explanations along with solutions and alternative financial systems that avoid instability provided by various scholars dating back to mid-19th century to present. The book then will present and discuss the architecture of an Islamic financial system and show that at its core, this system shares many characteristics of an stable financial system proposed by Western scholars throughout history to avoid the inherent instability of the present dominant system. Particular emphasis will be placed on the present financial crisis and its causes as well the financial crisis of the 1997 in Southeast Asia, Russia, and Latin America relating these episodes to the fundamental features of the dominant system. The debt crisis of the low income countries will also be part of this discussion. It will then argue that these crises could be mitigated under an Islamic system or any other system with similar architecture

ISBN 0470825197   Pages 248 ISBN13 9780470825198 (What's this?)   Weight (grammes) 596 Publisher John Wiley and Sons Ltd   Published in Chichester Imprint John Wiley & Sons Ltd   Series title The Wiley Finance Series Format Hardback   Height (mm) 236 Publication date 28 Apr 2010   Width (mm) 163 DEWEY 332.091767   Spine width (mm) 22 DEWEY edition DC22   Academic level Professional / Scholarly

		Glossary of Arabic terms
Ch. 1		The nature of capital and the rate of return		11
Ch. 2		The origins of financial panics and recessions		23
Ch. 3		Monetary policy and financial crises		37
Ch. 4		The internationalization of financial crises		45
Ch. 5		The role of the credit multiplier in financial crises		81
Ch. 6		The inherent stability of Islamic finance		75
Ch. 7		A theoretical model of the inherent stability of Islamic finance		83
Ch. 8		Asset pricing and risk in Islamic finance		93
Ch. 9		Islamic financial intermediation and markets		113
Ch. 10		Risk profile of Islamic financial intermediaries		131
Ch. 11		Financial engineering, derivatives and financial stability		141
Ch. 12		Corporate governance and financial crises		163
Ch. 13		The performance of Islamic financial intermediaries and products		183
		Conclusion		209
		Bibliography		217
		Index		225

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